Hysteresis effects of changing the parameters of noncooperative games | Zendy

David H. Wolpert | Zendy; Michael Harré | Zendy; Eckehard Olbrich | Zendy; Nils Bertschinger | Zendy; Jürgen Jost | Zendy

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Hysteresis effects of changing the parameters of noncooperative games

Author(s) -

David H. Wolpert,

Michael Harré,

Eckehard Olbrich,

Nils Bertschinger,

Jürgen Jost

Publication year - 2012

Publication title -

physical review e

Language(s) - English

Resource type - Journals

eISSN - 1550-2376

pISSN - 1539-3755

DOI - 10.1103/physreve.85.036102

Subject(s) - hysteresis , mathematical economics , game theory , bounded function , statistical physics , equilibrium selection , economics , repeated game , mathematics , computer science , physics , mathematical analysis , quantum mechanics

We adapt the method used by Jaynes to derive the equilibria of statistical physics to instead derive equilibria of bounded rational game theory. We analyze the dependence of these equilibria on the parameters of the underlying game, focusing on hysteresis effects. In particular, we show that by gradually imposing individual-specific tax rates on the players of the game, and then gradually removing those taxes, the players move from a poor equilibrium to one that is better for all of them.

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